Precious metals are considered to be rare types of metals that are actually chemically reactive. At one point hundreds and even thousands of years ago, they were used as currencies in various societies. Now, they are thought of as merchandise of value for various people and as well as various industrial uses play a massive part in the high quality jewellery world.
Common precious metals today are gold, silver, and platinum. These metals are even used as currency in various parts of the world.
They are sold at extremely high prices. Partially, due to the fact that they are worth so much due to the extreme interest, or attractiveness by humans. But the more significant reason for the high price is due to the limited amount of these metals. There are very few of these metals left in the world, and they are found naturally so they really canít be reproduced.
Precious metals can sometimes be oversold in the jewellery industry. Due to the limited nature of these precious metals numerous vendors take advantage of this fact and sell gold at somewhat expensive prices declaring that this is once in a life time offer and can be a memento for the rest of your life and for your offspring. Some vendors also sell at somewhat of a low price also stating you can sell for over 100% for the price you bought the metal at which may not be the case when you come to resell the jewellery. This is how precious metals are a lucrative business in itself, but shows how precious they really are.